Missouri Technology Corporation awards $2 million of SSBCI-funded equity investments

Published:
February 22, 2023
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Jefferson City, Mo. — The Missouri Technology Corporation (MTC) announced today that it will invest more than $2 million in eight high-growth potential startups that are developing technologies and businesses to create high-paying jobs across Missouri. Investments will be made through MTC’s Innovation, Development, and Entrepreneurial Advancement (IDEA) Fund Co-Investment Program, and is the first distribution of federal funds from the U.S. Department of Treasury’s State Small Business Credit Initiative (SSBCI) program.

“This is the first round of investments to be funded through the federal SSBCI program, which will allow MTC to award quarterly investment allocations for the next eight years or so,” said Jack Scatizzi, MTC’s Executive Director. “Applications were received from several of the state’s entrepreneurial ecosystems and MTC is excited to continue to deploy capital alongside our co-investors into high-growth potential early-stage companies throughout the state.”

January 2023 award cycle investments:

Allumin8, LLC – Allumin8 is pioneering a new category of orthopedic and spine hardware with a novel focus on bridging the gap between hardware and biologics to meet patient-specific challenges.

Navigate Oncology SolutionsNavigate Oncology makes software solutions for oncology clinics to improve workflow, reduce healthcare costs, and improve patient care.  

NuPeak Therapeutics, Inc. – NuPeak develops new drugs for the treatment of airway diseases such as asthma, COPD, and related conditions caused by respiratory viral infections (e.g., COVID-19, RSV, and influenza) and environmental toxins (e.g., tobacco smoke and air pollution).

Bryght Labs, Inc.Bryght Labs makes consumer electronics and software apps for sports and hobbies. 

Edison Agrosciences, Inc.Edison is an ag/biotech company engineering sunflower plants to produce a domestic source of natural rubber, a strategic raw material required in thousands of military, industrial, and consumer products, but with no domestic supply.

Solis Agrosciences, Inc.Solis Agrosciences is a services provider for the growing AgTech industry that enables plant sciences companies to more quickly and cost-effectively deliver innovative products to growers and consumers. 

StoryUp, Inc. dba HealiumHealium sells digital therapeutics for the self-management of anxiety and sleep powered by the company’s proprietary technology that connects any consumer wearable to 3D assets in augmented, virtual, or mixed realities.Readout, Inc.Reverses metabolic disorders through self-knowledge, biomarker validation, and permanent lifestyle modification within a provider market.

About Missouri Technology Corporation 

The Missouri Technology Corporation is a public-private partnership created to promote entrepreneurship and foster the growth of new and emerging high-tech companies. MTC’s vision is to transform Missouri through the power of entrepreneurship by serving as a catalyst for technology-based innovation. MTC helps achieve sustainable economic growth through leadership and strategic investments that help entrepreneurs create and grow technology businesses in Missouri.

To learn more about MTC, visit missouritechnology.com

Source: https://ded.mo.gov/content/missouri-technology-corporation-awards-2-million-ssbci-funded-equity-investments


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